How to Start the Right Business under Premium Visa Programme (PVIP)?
With the new release of Malaysia’s very own ‘Residency through Investment Programme’ or better known as ‘Premium Visa Programme (PVIP)’ on 1 September 2022, the Home Minister announced that PVIP participants are allowed to actively conduct business in Malaysia with Malaysian Sdn Bhd company. [Check out the difference between MM2H Visa and Premium Visa Programme (PVIP)]
PVIP participants can set up and invest in businesses, real estate and any investments in Malaysia. They can also be employed or study in Malaysia with no restrictions!
Finding viable and true investment opportunities in Malaysia can be cumbersome and tedious for all foreigners in Malaysia. Being fresh to the country when everything is unknown and unfamiliar in a foreign land, it is normal to be fearful to start a business. Certain investments can be very complex with many rules and regulations to comply. Please spend sufficient time doing thorough research on the business of your interest before investing any amount as we believe failure is easy, but success rare!
Many may not be aware that your personal information in your new company set up with the Companies Commission of Malaysia is now linked to the Immigration Department. Therefore, it is vital to maintaining updated records of company and tax compliance to avoid any blacklisting, which can affect your profile in Malaysia. There are steps to follow how to start the right business for foreigners including PVIP participants and maintain your legal status under the PVIP visa.
For more information on the type of entities foreigners can have, types of business incorporation and licensing, please log on to www.malaysiabizadvisory.com. Not every business foreigners can operate in Malaysia, view the list of not permissible businesses for foreigners here!
Some burning questions you may want to know!
* Can I start my international business under PVIP Visa?
* Is my income earned overseas or international dealings subject to tax?
* How can I open bank accounts for my Malaysian Sdn Bhd Company or Labuan International Company with PVIP Visa?
Feel free to contact us at firstname.lastname@example.org to find out more and how we can better advise you!